Orlando & Ocala Industrial Real Estate Market Highlights:
- The Orlando industrial real estate market had an incredible first quarter of 2022 with $362.5 million in total investment sales volume. With demand for industrial space at an all-time high and Orlando’s unique geographic position, investors flooded the market the past two quarters.
- The Ocala market has also prevailed as an industrial hot spot within Central Florida and presents great opportunity for future development. The market’s close proximity to I-75, the Florida Turnpike and US 301 make the area incredibly accessible by major highways.
- Industrial real estate vacancy rates across all types of industrial uses in Orlando are very low, averaging 3.6%. Vacancies are event tighter in Ocala, averaging 2.1%. We expect vacancies throughout Central Florida to remain low as demand continues to outpace supply.
- Although labor and material prices remain elevated, industrial development in both Orlando and Ocala will continue, albeit at a more moderate pace and in more creative ways.
- With land prices on the rise as well, developers and occupiers are showing more interest in adaptive reuse. Struggling malls and many older retail properties throughout Central Florida are well-positioned to be transitioned into industrial real estate use.
- Further, the limited inventory paired with record rents is driving tenant interest outside of Central Florida’s core markets into areas like Groveland, Daytona, DeBary, Deland, Lake Wales and Winter Haven.
Read or download Franklin Street’s full Orlando & Ocala Industrial Market Report below:
